Loading...
•
Mar 31, 2021
Flowserve Q1 2021 Earnings Report
Reported strong sequential bookings growth, significant operating income improvement, and raised full-year 2021 revenue and adjusted EPS guidance.
Key Takeaways
Flowserve Corporation reported a strong start to 2021 with a 47% increase in adjusted EPS year-over-year and a 15% sequential bookings growth. Decisive cost actions and Flowserve 2.0 transformation activities were key to the first quarter performance, as adjusted operating income increased over $20 million from last year.
Total bookings were $945.0 million, down 3.3%, or 6.0% on a constant currency basis and up 14.5% on a sequential basis
Reported Earnings Per Share (EPS) of $0.11 and Adjusted EPS of $0.28
Sales were $857.3 million, down 4.1%, or 7.0% on a constant currency basis
Backlog at March 31, 2021 was $1.9 billion, up 1.6% versus December 31, 2020
Forward Guidance
Flowserve revised certain of the full-year metrics of our 2021 target range. Previously announced metrics not shown below are reaffirmed as of today.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...